What makes A/R Leaders Stand Out?

By analyzing different indicators, these are the areas where A/R leaders have harnessed technology and cracked the code for being World-Class.

Analysts spend lesser time in clerical work

With the help of technology, such as robots and Artificial Intelligence, analysts in World-Class companies save 24% more time in low-value work such as:

• collecting remittances/claims from emails, web-portals, faxes
• scanning and keying-in data into spreadsheets
• pulling credit details from public financials
• generating account worklists for dunning

Analysts instead focus on strategic tasks, such as researching invalid deductions, controlling credit-risk, reducing critically delinquent accounts.

Advanced reporting and analytics provide better insight

50% of World-Class companies have advanced reporting and analytics capability providing† comprehensive process visibility and helping in decision-making by:

• Drilling down on root cause
• Real time reporting
• Out of the box reporting

Technology positions executives to drive next-level process transformation versus policing metrics and process owners.

Teams are more effective

By automating business processes, A/R teams of World-Class companies are more effective and commit 66% lower errors associated with:

• Manual data entry
• Calculation errors
• Aggregating data from disparate sources
• Lack of complete information

Artificial Intelligence-enabled systems have self-learning capability that monitor analyst activity and improve over time, making lower mistakes.

Teams do the right things to collect faster

Digital transformation enables A/R teams of World-Class companies to collect 95% credit sales within payment terms. This is achieved by using technology that allows:

• Proactive reminders and strategic dunning
• Prediction of payment date by analyzing customer payment trends
• Accelerated dispute resolution by predicting dispute validity
• Automated, proactive credit reviews for identifying high-risk customers